Replies to post #21246 on China MediaExpress Holdings, Inc. (fka CCME)

[bradford86]

Q/A Herb Greenberg:

Q:
DoNotLose Glen Bradford
@herbgreenberg Herb, if Deloitte signs the $CCME 10-K in the midst of these fraud allegations, what's the fraud risk in your

A:
herbgreenberg herb greenberg
@
@DoNotLose why did auditors sign off on enron? worldcom? etc etc. if they sign offi guess it'll show they don't think there is fraud!!!

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What's ironic to me about this is that Enron was hiding all sorts of stuff in a very tricky balance sheet that was designed to be non-transparent

MCI worldcom was selling prepaid calling cards and reporting revenues before the people that bought the cards from them had paid them... basically they were selling prepaid calling cards to boilerroom type operations who were running away with lots of MCI's money.. slowly at first, but it ramped up and they kept getting away with it.

CCME - everything gets booked as cash. how the hell do you hide that?

i've got 140 characters to spend on a reply if anyone has any good ideas.